US ponders complement to Cfius regime

Author: IFLR Correspondent | Published: 29 Nov 2017

On October 18 2017, senators Sherrod Brown (D-OH) and
Chuck Grassley (R-IA) introduced the United States Foreign
Investment Review Act of 2017 (Fira). If enacted, Fira would
reflect the most significant thematic expansion of the US
government's foreign investment clearance regime since the
passage of the Foreign Investment and National Security Act of
2007 (Finsa), which codified the legal authority and current
review process for the Committee on Foreign Investment in the
United States (Cfius).

Fira would amend the Trade Act of 1974 to require the
Secretary of the Department of Commerce to review certain
foreign acquisitions of US businesses to determine the economic
effects of such acquisitions on the US. Explicitly targeted at
mitigating the perceived adverse economic impacts of foreign
government-sponsored investments, Fira would require mandatory
review of deals above certain dollar thresholds, and empower
the Department of Commerce and the United States Trade
Representative, each of which...